Member Info for Newanda

https://www.thisismoney.co.uk/money/markets/article-8773883/MARKET-REPORT-Brothers-hit-jackpot-William-Hill-bidding-war.html

Bullish

‘The dataroom for the Project Peregrine farm-out has now been open for several weeks, with multiple parties at various stages of technical due diligence, several of whom are now progressing to commercial discussions. 88E is targeting close of a deal prior to year-end 2020.‘

Quite possibly due to imminent:
1) independent CPR for other Talitha prospects
2) anticipation of farmout

This is nice isn’t it?

;-)

try 34.48%

Relaxx - possibly, but I suspect it will move into the 0.3s tomorrow on this.

Share price currently has a failed Charlie-1 priced in. This suggests otherwise....

Managing Director of 88 Energy, Dave Wall, stated: "The results from the Seabee, despite Charlie-1 not being optimally located, are outstanding. Whilst these may appear as a serendipitous by-product of the well, internal analysis prior to drilling had already significantly high graded this formation; however, it was too late to change the objectives/location of the well meaning that work remained largely on the drawing board. This final interpretation is a strong vindication of that internal effort. We are now looking forward to the conclusion of the evaluation of the Seabee oil discoveries as we integrate the petrophysics into the seismic inversion and subsequent mapping, which will ultimately yield updated volumetrics for our resources that will feed into the Icewine farm-out process.
Good progress continues to be made at the newly acquired Project Peregrine on both the farm-out and permitting/planning fronts. Additional news related to that will be provided to the market in a separate announcement in the near term.
Finally, the confirmation of the ideal thermal maturity for the HRZ shale is encouraging and will form the basis of further work to continue to unlock its large potential

Highlights
• Final petrophysical interpretation, using sophisticated Laminated Sand Analysis, substantially upgrades net hydrocarbon pay in the Charlie-1 well
• Interpretation integrates log data and advanced lab analysis of cores taken during drilling, including excellent liquid hydrocarbon saturations from both Dean Stark and core NMR1
• Increase in pay despite higher cut off values being used to determine pay zones
• Pay zones also high graded vs initial interpretation with lower water saturation / higher oil
saturation and better average porosity
• Final petrophysical interpretation will now be integrated into revised mapping of the Seabee
and Torok discoveries to determine resource estimates
• Data room for the next Project Icewine farm-out to be opened in the near term
• Thermal maturity of the HRZ shale confirmed as in the peak oil generation window

https://www.asx.com.au/asxpdf/20200911/pdf/44mjmfvk5cmfky.pdf

Morning Brombard - approval process is 60 days

Rabito - Prem only had the option on the success case with Charlie is my understanding.

As they have chosen to exit , I interpret that to mean they have also foregone the opportunity on the other leases.

If the well was a success, they could have taken up their options for $15m in exchange for 50% WI on either Central or Eastern

Although that's based on Talitha, Alkaid and East Texas - nothing in for Leonis and Theta West

Nice find, target price 55p risked NAV, 212p unrisked.

Useful to see a valuation,

Tonno - I agree it was a great, and timely, update.

Lots of short term catalysts here:
1) 60 days to decision on Alkaid production unit
2) 3 weeks to resource upgrade on Talitha (given the planned webcast I take it they have positives to share else why bother)
3) Farmout - well if they want to drill 20/21 winter they haven't got long to get it sorted. Season starts in a couple of months - December/January I think and runs to April. They'll need to contract a rig, get planning approvals etc. all sorted before hand. Not sure Jay would be declaring such bullishness with looming deadlines unless confident. Or he's a bit daft to do so if it's not looking likely.

Ironically - the low oil price has surely helped our cause here. Companies more scrupulous with making sure they can turn a profit. Need low Capex, low Opex investments.

Mr Brest's interest results from the direct and indirect holding of Pantheon by Westman Management Limited ("Westman"), of which Mr Brest is the sole director. Westman holds 327,869 ordinary shares of Pantheon and holds approximately 5.3% interest in Ursa Major Holdings LLC ("UMH"). UMH has an indirect interest in Pantheon through Great Bear Petroleum Operating LLC ("GBPO") as a result of the acquisition of the Great Bear Companies by Pantheon announced on 21 December 2018. UMH holds an approximately 50% interest in GBPO. GBPO has a beneficial interest in approximately 28 million ordinary shares. 26 million of these ordinary shares are held by CHONS LLC on behalf of GBPO. GBPO also owns approximately 88 million non-voting shares convertible into ordinary shares, 4.8 million warrants exercisable into convertible non-voting shares in the Company with strike price of £0.30 per share, and options over approximately 49 million shares in the Company presently owned by CHONS LLC, of which approximately 30.7 million are currently exercisable into ordinary shares and 13.3 million are exercisable into convertible non-voting shares.

Nice RNS - very positive

https://www.petroleumnews.com/products/Exp_2020.pdf

Pantheon page 49

Low volumes still, however buys seem to be getting bigger. Think folk starting to position. Very hard to buy this morning, and the market will take sizeable sells (up to £20k at the mo). Also quite tough to buy into the close yesterday.

Think we'll see some larger trades moving through. Good luck.

4 major catalysts:
1) large positions being taken by Ox Distributing, John Story, Spreadex (which Mr Story holds his investment in), Inter Trader
2) Distribution deals already made
3) Distribution deals in the pipeline
4) Retail investor sentiment picking up

Good messages on this board from yesterday on the possible numbers and on the business

...there might be a significant conventional oil reservoir close to infrastructure?

https://www.bloomberg.com/news/articles/2020-08-16/oil-companies-wonder-if-it-s-worth-looking-for-oil-anymore